Credit unions merge
KARNS CITY — Some credit union customers in the northwest corner of Butler County will be getting their first money access machine, extended business hours and a substantial increase in services.
That is because the Penn Drake Credit Union plans to complete a merger with the Butler Armco Employees Credit Union by Jan. 1.
All of the services available to Butler Armco Employees Credit Union’s 25,000 members — including checking, mobile banking and mortgages — will be offered to Penn Drake’s 512 members. Now those credit union members have limited services.
Additionally, the office at 112 Petrolia St. will add Friday hours to its current Monday through Thursday hours. It will become a full-service branch offering cash-handling services not provided now.
The two employees at that branch will continue there while staff from the main branch will fill in when needed.
Tony Schakley, marketing manager at the Butler Armco credit union, said the merger benefits Armco members because they will be able to use that branch.
“We have about 1,000 members in that area already,” Schakley said.
Members of the Penn Drake Credit Union, which has about $3 million in assets, and its board of directors already voted on the merger.
Shakely said the Penn Drake board will dissolve after the merger. Those people can apply for the 9-member board at the Butler Armco credit union.
The board at Butler Armco, which has $280 million in assets, also already voted for the merger.
Over the past 10 years, the Butler Armco Credit Union has merged with a number of others, including the VA Credit Union, the West Penn Power Credit Union and the Postal Employees credit union.
Shakley said the Butler Armco credit union, which was founded in 1935, is not in negotiations with any other credit unions now.
